Solve these problems in excel using either FV, NPER, NPV, PMT, PV, RATE.

1a. A local museum wishes to invest $100,000 of endowed funds for 10 years, with a goal of having $200,000 at the end of that time. At what interest rate, compounded annually, would the museum need to invest the funds to achieve this goal? (Note: This can be solved with the RRI() function or with the PV() function and Goal Seek.)

b. Assume the museum in part a. knows, instead, that it can earn 6.25%, compounded annually, on its endowment of $100,000. How long (in years) will it take the endowment to grow to $200,000?

2. What is the amount that Advanced Engineering Group accumulates if it invests $300,000 every six months for two years at the same annual interest rate (semiannual rate = 7.89%/2)?

3. ABC Corp. wishes to invest a fixed sum at 4.65% and withdraw $10,000 at the end of each month for the next three years. How much ABC will need to invest? In other words, what is the present value of an ordinary annuity of $10,000 for 36 periods, discounted at a rate of 4.65%/12 per period?